$ONL reports Q4 and FY2022 results, completing $331M in leasing activity. Navigating uncertainty, employing active asset management strategies.
Mar 8th 2023, 9:17 pm
Analyst Summary: Orion Office REIT Inc., a real estate investment trust, announced its Q4 and full-year 2022 results, reporting that it completed $331 million in leasing activity during the past year. The company focuses on owning mission-critical and corporate headquarter suburban office properties in well-located markets. Due to the prolonged uncertainty around the return to the office, the company is navigating this challenging economic environment while managing its balance sheet and financial flexibility to build sustainable long-term value. Orion's portfolio occupancy rate was 89%, and the company is continuing to review potential property acquisitions while employing active asset management strategies to maximize tenant retention rates and future cash flow. The company has announced a cash dividend of $0.22 per share for the first quarter of 2023, payable on April 17, 2023. Therefore, investors might consider monitoring Orion Office REIT's activity closely as it is working on opportunities despite economic challenges.